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Dionysian economics = making economi...

Ward, Benjamin.

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Dionysian economics = making economics a scientific social science /

Record Type:	Electronic resources : Monograph/item
Title/Author:	Dionysian economics/ by Benjamin Ward.
Reminder of title:	making economics a scientific social science /
Author:	Ward, Benjamin.
Published:	New York :Palgrave Macmillan US : : 2016.,
Description:	xix, 283 p. :ill., digital ;24 cm.
Contained By:	Springer eBooks
Subject:	Economics. -
Online resource:	http://dx.doi.org/10.1057/9781137597366
ISBN:	9781137597366

Dionysian economics = making economics a scientific social science /
Ward, Benjamin.

Dionysian economicsmaking economics a scientific social science /[electronic resource] :by Benjamin Ward. - New York :Palgrave Macmillan US :2016. - xix, 283 p. :ill., digital ;24 cm.

Nietzsche distinguished between two forces in art: Apollonian, which represents order and reason, and Dionysian, which represents chaos and energy. An ideal work of art combines these two characteristics in a believable, relatable balance. Economists, Ward argues, have operated for too long under the assumption that their work reflects scientific, Apollonian principals when these simply do not or cannot apply: "constants" in economics stand in for variables, mathematical equations represent the simplified ideal rather than the complex reality, and the core scientific principal of replication is all but ignored. In Dionysian Economics, Ward encourages economists to reintegrate the standard rigor of the scientific method into their work while embracing the fact that their prime indicators come from notoriously chaotic and changeable human beings. Rather than emphasizing its shortfalls compared to an extremely Apollonian science, such as physics, economics can aspire to the standards of a science that accounts for considerable Dionysian variation, such as biology. The book proposes that economists get closer to their dynamic objects of study, that they avoid the temptation to wish away dynamic complexity by using simplifying assumptions, and that they recognize the desire to take risks as fundamentally human.

ISBN: 9781137597366

Standard No.: 10.1057/9781137597366doiSubjects--Topical Terms:

517137
Economics.

LC Class. No.: HB71 / .W345 2016

Dewey Class. No.: 330

Dionysian economics = making economics a scientific social science /
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245 1 0 $a Dionysian economics $h [electronic resource] : $b making economics a scientific social science / $c by Benjamin Ward.
260 $a New York : $b Palgrave Macmillan US : $b Imprint: Palgrave Macmillan, $c 2016.
300 $a xix, 283 p. : $b ill., digital ; $c 24 cm.
520 $a Nietzsche distinguished between two forces in art: Apollonian, which represents order and reason, and Dionysian, which represents chaos and energy. An ideal work of art combines these two characteristics in a believable, relatable balance. Economists, Ward argues, have operated for too long under the assumption that their work reflects scientific, Apollonian principals when these simply do not or cannot apply: "constants" in economics stand in for variables, mathematical equations represent the simplified ideal rather than the complex reality, and the core scientific principal of replication is all but ignored. In Dionysian Economics, Ward encourages economists to reintegrate the standard rigor of the scientific method into their work while embracing the fact that their prime indicators come from notoriously chaotic and changeable human beings. Rather than emphasizing its shortfalls compared to an extremely Apollonian science, such as physics, economics can aspire to the standards of a science that accounts for considerable Dionysian variation, such as biology. The book proposes that economists get closer to their dynamic objects of study, that they avoid the temptation to wish away dynamic complexity by using simplifying assumptions, and that they recognize the desire to take risks as fundamentally human.
650 0 $a Economics. $3 517137
650 0 $a Economics $x Philosophy. $3 562283
650 2 4 $a Economic Theory/Quantitative Economics/Mathematical Methods. $3 2162305
650 2 4 $a Behavioral/Experimental Economics. $3 2179638
650 2 4 $a Macroeconomics/Monetary Economics/Financial Economics. $3 2179654
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950 $a Economics and Finance (Springer-41170)